Thesis pillars
- Cash Burn Low Quality→Stable
- Strong Revenue Growth→Stable
- Contract Manufacturer Dependence↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Mar 10, 2026
Evolv Technologies Holdings, In (EVLV) Stock Analysis
Recovery setup · Inst Constrain edge
Industrials · Security & Protection Services
Sell if holding. Engine safety override at $4.76: Quality below floor (2.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.2/10 and A.R:R 5.3:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Below long-term trend.
Evolv Technologies is a security technology company that sells AI-powered weapons-detection screening systems (Evolv Express for people, Evolv eXpedite for bags) under a Security-as-a-Service subscription model to schools, healthcare facilities, stadiums, and other venues, with... Read more
Sell if holding. Engine safety override at $4.76: Quality below floor (2.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.2/10 and A.R:R 5.3:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Below long-term trend. Chart setup: Death cross but MACD improving, RSI 55. Score 6.2/10, moderate confidence.
Passes 6/8 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, semi cycle peak clear, materials cycle peak clear). Suitability: speculative.
About Evolv Technologies Holdings, In
About Evolv Technologies Holdings, In
Evolv Technologies sells AI-powered weapons-detection screening systems — Evolv Express for people and Evolv eXpedite for bags — under a multi-year Security-as-a-Service subscription model to schools, hospitals, sports venues, and other high-traffic facilities, with its products screening more than four billion visitors since Express launched in 2019. One reseller customer accounted for more than 10% of total revenue in both 2025 and 2024, and nearly all of Evolv's hardware is currently built by a single contract manufacturer, Columbia Tech.
Evolv's revenue is recurring and subscription-based: customers either lease hardware under a 'pure subscription' model or buy it outright under a 'purchase subscription' model, both bundled with a typically four-year Security-as-a-Service contract covering software updates, cloud analytics (Evolv Insights), and onsite support, so a substantial portion of revenue is recognized ratably over the contract term rather than at the time of sale. Distribution runs through a direct sales force plus a global network of value-added resellers, and one reseller alone represented more than 10% of total revenue in both 2025 and 2024. Manufacturing is concentrated: Columbia Tech currently manufactures, assembles, tests, and packages all of Evolv's systems, though the company signed a non-exclusive agreement with Plexus Corp in November 2025 to begin diversifying its contract-manufacturing base, and a separate Massachusetts/U.K.-based manufacturer serves as second source for a key sensor component.
Show full overview
Evolv's single point of production failure sits with one contract manufacturer: the 10-K states plainly that all its systems are currently manufactured, assembled, tested, and packaged by Columbia Tech, even though several potential alternative manufacturers exist for most products. The November 2025 Plexus Corp agreement is explicitly framed as a diversification step rather than a completed fix, and the company cautions that onboarding risks could offset any expected cost or margin benefit before the transition is complete. That concentration compounds an unrelated customer-side risk — a single reseller supplying more than 10% of revenue in each of the last two years — meaning Evolv's near-term financial results hinge on both ends of its value chain holding steady simultaneously.
See also: Industrials · Security & Protection Services
From Evolv Technologies Holdings, In's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-10-29Recent Developments — Evolv Technologies Holdings, In
Latest news
- NEWS Evolv Technologies Deploys Screening Systems at Utah's Delta Center — fiscal.ai Oct 24, 2026 positive
- NEWS Evolv Technologies Deploys Its Evolv Express, Evolv eXpedite Platforms At Delta Center In Utah — benzinga Oct 23, 2026 positive
- NEWS Evolv Technologies Announces Selection As Security Screening Provider At Seattle's Climate Pledge Arena; Terms Not Discl — benzinga Sep 28, 2026 positive
- NEWS Ladenburg Thalmann Initiates Coverage On Evolv Technologies with Buy Rating, Announces Price Target of $8 — benzinga Sep 8, 2026 positive
- NEWS Evolv Technologies Q2 Adj. EPS $(0.02), Inline, Sales $43.753M Beat $41.809M Estimate — benzinga Aug 11, 2026 positive
Generated 2026-10-29T11:48:39Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHSupplierColumbia Tech (contract manufacturer)10-K Item 1A: 'all our systems are currently manufactured, assembled, tested, and packaged by Columbia Tech'
- LOWCustomersingle reseller customer10-K Item 1: 'One customer, which is a reseller of our products, accounted for more than 10% of our total revenue for both years ended December 31, 2025 and the year ended December 31, 2024.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Unprofitable operations — net margin -3.0%. Quality floor flags this regardless of sector context.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $4.76: Quality below floor (2.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.2/10 and A.R:R 5.3:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Below long-term trend. Chart setup: Death cross but MACD improving, RSI 55. Prior stop was $4.43. Score 6.2/10, moderate confidence.
Analyst target: $8.57 (+80.0% upside). Prior stop was $4.43. Stop-loss: $4.43.
Concentration risk — Supplier: Columbia Tech (contract manufacturer); Quality below floor (2.6 < 4.0).
Evolv Technologies Holdings, In trades at a P/E of N/A (forward -129.8). TrendMatrix value score: 8.2/10. Verdict: Sell.
11 analysts cover EVLV with a consensus score of 4.2/5. Average price target: $10.
What does Evolv Technologies Holdings, In do?Evolv Technologies is a security technology company that sells AI-powered weapons-detection screening systems (Evolv...
Evolv Technologies is a security technology company that sells AI-powered weapons-detection screening systems (Evolv Express for people, Evolv eXpedite for bags) under a Security-as-a-Service subscription model to schools, healthcare facilities, stadiums, and other venues, with products having screened over four billion visitors since 2019. The company depends on a single contract manufacturer, Columbia Tech, for all of its systems (a second manufacturer, Plexus Corp, was added in November 2025 to diversify), and one reseller customer accounted for more than 10% of total revenue in both 2025 a